Comerica Bank lowered its position in shares of ViaSat, Inc. (NASDAQ:VSAT) by 10.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,638 shares of the communications equipment provider’s stock after selling 3,623 shares during the quarter. Comerica Bank owned 0.05% of ViaSat worth $2,688,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of VSAT. Flagship Harbor Advisors LLC purchased a new stake in shares of ViaSat during the 2nd quarter worth approximately $29,000. FNY Investment Advisers LLC bought a new position in ViaSat in the 2nd quarter worth about $80,000. Cerebellum GP LLC purchased a new position in ViaSat during the 1st quarter worth $90,000. Advisory Services Network LLC grew its position in shares of ViaSat by 1,626.0% during the 2nd quarter. Advisory Services Network LLC now owns 1,726 shares of the communications equipment provider’s stock worth $139,000 after buying an additional 1,626 shares in the last quarter. Finally, Coastal Investment Advisors Inc. raised its holdings in shares of ViaSat by 170.6% in the second quarter. Coastal Investment Advisors Inc. now owns 2,300 shares of the communications equipment provider’s stock valued at $184,000 after acquiring an additional 1,450 shares in the last quarter. Institutional investors and hedge funds own 90.17% of the company’s stock.
VSAT opened at $78.22 on Wednesday. The company has a 50-day moving average price of $79.06 and a 200 day moving average price of $82.73. ViaSat, Inc. has a twelve month low of $55.93 and a twelve month high of $97.31. The company has a market cap of $4.86 billion, a PE ratio of -69.22 and a beta of 0.89. The company has a quick ratio of 1.10, a current ratio of 1.64 and a debt-to-equity ratio of 0.85.
ViaSat (NASDAQ:VSAT) last posted its quarterly earnings results on Thursday, August 8th. The communications equipment provider reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.10. ViaSat had a negative return on equity of 2.26% and a negative net margin of 2.08%. The business had revenue of $537.00 million during the quarter, compared to analyst estimates of $506.02 million. During the same period in the prior year, the business earned ($0.30) earnings per share. The business’s revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts expect that ViaSat, Inc. will post -0.15 earnings per share for the current year.
In other news, Director B Allen Lay sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $81.27, for a total value of $81,270.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark J. Miller sold 2,236 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $88.48, for a total value of $197,841.28. The disclosure for this sale can be found here. Insiders have sold a total of 30,256 shares of company stock valued at $2,499,242 in the last 90 days. Insiders own 7.60% of the company’s stock.
Several brokerages have recently weighed in on VSAT. Bank of America reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $74.00) on shares of ViaSat in a research report on Monday, June 3rd. Zacks Investment Research downgraded ViaSat from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a report on Monday, July 29th. ValuEngine downgraded shares of ViaSat from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 1st. BidaskClub lowered shares of ViaSat from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Finally, Raymond James raised shares of ViaSat from a “market perform” rating to an “outperform” rating and set a $88.00 price objective on the stock in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $94.71.
Viasat, Inc provides broadband and communications products and services worldwide. The company's Satellite Services segment offers satellite-based fixed broadband services, including broadband Internet access and voice over Internet protocol services to consumers and businesses; in-flight Internet and aviation software services to commercial airlines; and mobile broadband services comprising network management and high-speed Internet connectivity services for customers using airborne, maritime, and ground mobile satellite systems.
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